Many Pensacola Beach residents to see a discount on flood insurance - Insurance News | InsuranceNewsNet

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March 20, 2024 Property and Casualty News
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Many Pensacola Beach residents to see a discount on flood insurance

CBS - 5 WKRG (Mobile, AL)
PENSACOLA BEACH, Fla. (WKRG) — Many Pensacola Beach residents will be eligible for a discount on flood insurance.

According to a press release from the Santa Rosa Island Authority, Pensacola Beach has retained its Class 5 rating in the National Flood Insurance Program's Community Rating System. The Federal Emergency Management Agency's website states that communities can be eligible for flood insurance discounts depending on how many points they receive.

"Classifications are based on the community's CRS credit points obtained in 19 creditable activities. The CRS activities are organized in four categories:"

* Public information

* Mapping and regulations

* Flood damage reduction

* Warning and response

Since the Pensacola Beach community received a Class 5 ranking, the community qualifies for a 25% discount on flood insurance premiums for most NFIP policies issued or renewed on or after Oct. 1, 2024, according to the release.

"This recognition is a testament to the dedication of our staff and the community at large in their commitment to enhancing public safety, protecting properties, and preserving the natural functions of floodplains," SRIA Executive Director Leigh Davis said. "The discount that many of our residents will receive on their flood insurance premiums makes our work in maintaining this rating worthwhile."

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